Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.com/. We interview top investors and dive deep into stocks and...
Plural Investing's Chris Waller on the entertainment and hospitality turnaround at Seaport $SEG
Chris Waller, Founder and CIO at Plural Investing, joins the podcast for the third time to discuss his thesis on Seaport Entertainment Group Inc. (NYSE American: SEG), whose focus is to deliver unparalleled experiences through a combination of restaurant, entertainment, sports, retail and hospitality offerings integrated into one-of-a-kind real estate that redefine entertainment and hospitality.For more information about Plural Invest, please visit: https://www.pluralinvesting.com/Plural Investing/Hidden Gems write up on $SEG: https://www.hiddengemsinvesting.com/p/special-report-seaport-entertainmentChapters:[0:00] Introduction + Episode sponsor: Fintool[2:22] What is Seaport Entertainment and why it's interesting to Chris[7:40] What is Chris seeing with $SEG that makes Seaport a risk adjusted alpha opportunity[9:20] Cash burn / is the district really that valuable, good[17:41] What attracted Andrew to $SEG - how the opportunity came about (spin off from Howard Hughes)[22:36] Ackman involvement[27:25] Overview of Pier 17 and the new lease they've got there / Meow Wolf concept[36:37] Tin Building and the vision for it / kitchen consolidation / competitive analysis[48:50] Overview of 250 Water and Vegas assets (air rights, Triple A team)[59:33] Overview of "The Historic District"[1:02:38] How the $SEG thesis doesn't play out / new management team[1:06:06] Final thoughtsToday's sponsor: FintoolFintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document.Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings. If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer
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1:09:50
Random Ramblings March 2025: the market sell off, relationships with management teams, corp gov
Welcome to the March 2025 edition of Andrew's Random Ramblings on the Yet Another Value Podcast. Once a month, Andrew will share thoughts on a few topics - this episode includes: the market sell off, relationships with management teams - pros and cons, activism and corporate governance, and where to liveChapters:[0:00] Introduction + Episode sponsor: Daloopa[2:30] The market sell off[15:45] Developing relationships with management teams[22:02] Corporate governance and activism[25:26] Where to live[28:58] Planet MicroCap Showcase: VEGAS 2025 in partnership with MicroCapClubToday's sponsor: DaloopaPost-earnings reports are more than just a data dump—they’re a goldmine of opportunities waiting to be unlocked. And with Daloopa, you can turn those opportunities into actionable insights.Daloopa’s dynamic scenario-building tools integrate updated earnings data, letting you model multiple strategic outcomes, like what happens if a company revises guidance upward. And with automated sensitivity analysis, you can quickly understand the impact of key variables like cost pressures, currency fluctuations, or interest rate changes.This means you’ll deliver more actionable insights for your clients, helping them navigate risks and seize opportunities faster. Ready to enrich your post-earnings narratives? Visit http://daloopa.com/YAV today to get started.
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31:35
Optimist Fund's Jordan McNamee on ThredUp's value proposition $TDUP
Jordan McNamee, Founder and CIO of Optimist Fund, joins the podcast to share his thesis on ThredUp Inc. (Nasdaq: TDUP, LTSE: TDUP), one of the largest online resale platforms for apparel, shoes, and accessories.For more information about Optimist Fund, please visit: https://www.optimistfund.com/Chapters:[0:00] Introduction + Episode sponsor: Daloopa[1:39] What is ThredUp $TDUP and why they are interesting to Jordan[13:45] Why is this going to be a good business in the long-term[18:16] Why are customers choosing $TDUP over eBay or other competitors / why is this enough of an opportunity (from an investment perspective) / comparison to DoorDash[30:50] Growth potential that Jordan sees[35:15] Rhymes of other marketplaces; what's different with $TDUP[41:18] What would break the $TDUP thesis for Jordan[47:17] Insider ownership[53:46] Final thoughts / current stock priceToday's sponsor: DaloopaPost-earnings reports are more than just a data dump—they’re a goldmine of opportunities waiting to be unlocked. And with Daloopa, you can turn those opportunities into actionable insights.Daloopa’s dynamic scenario-building tools integrate updated earnings data, letting you model multiple strategic outcomes, like what happens if a company revises guidance upward. And with automated sensitivity analysis, you can quickly understand the impact of key variables like cost pressures, currency fluctuations, or interest rate changes.This means you’ll deliver more actionable insights for your clients, helping them navigate risks and seize opportunities faster. Ready to enrich your post-earnings narratives? Visit http://daloopa.com/YAV today to get started.
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59:11
Simon Kold, Author of "On the Hunt for Great Companies", on what makes a great company
Simon Kold, Author of "On the Hunt for Great Companies" and Founder & Portfolio Manager at Kold Investments, joins the podcast to discuss what makes a great company based on his research and writing of his new book, "On the Hunt for Great Companies."You can buy your copy of Simon's new book, "On the Hunt for Great Companies" here: https://www.amazon.com/Hunt-Great-Companies-Evaluating-Durability/dp/1394285744Chapters:[0:00] Introduction + Episode sponsor: Fintool[2:30] Why Simon decided to write the book[4:30] Authenticity of communication as an indicator of management passion / deviations from the norm[12:53] Maximizing shareholder value (pretenders vs. reality) / Founder CEOs / Project IRRs vs. buybacks[23:09] Value capture / over-earning vs. over-extraction[33:47] Industries with staying power / longer-term predictability (example of Alcohol industry) / building competitive advantages ($COST example)[44:42] Premise / value add of the book + final thoughtsToday's sponsor: FintoolFintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document.Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings. If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer
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47:50
Alex Morris, TSOH & Author of "Buffett and Munger Unscripted", talks 2024 Berkshire Annual Letter
Alex Morris, Author of "Buffett and Munger Unscripted" and Owner & Analyst at TSOH Investment Research, joins the podcast to discuss the 2024 Berkshire Annual Letter.You can buy your copy of Alex's new book, "Buffett and Munger Unscripted" here: hhttps://amzn.to/4asUWNiChapters:[0:00] Introduction + Episode sponsor: Fintool[2:40] Alex's initial thoughts on Berkshire's 2024 annual letter[4:23] Was there anything different for Alex reading the letter this year (having worked on the Buffett book and spending a lot more time studying him and Berkshire)[6:52] Buffett's macro take on 2024[9:59] Would it shock Alex if this is Buffett's last letter and/or he retires at the annual meeting[14:10] Capital allocation - changing strategy on the horizon[21:17] Discussion on $OXY[24:43] Buffett addressing his mistakes[31:08] Japanese investments[37:22] Results in the insurance business[39:27] Thoughts on Class A / Class B structureToday's sponsor: FintoolFintool is ChatGPT for SEC Filings and earnings calls. Are you still doing keyword searches and going to the individual filing and using control F? That’s the old way of doing things before AI. With Fintool, you can ask any question and it’s going to automatically generate the best answer. So they may pull from a portion of an earnings call, or a 10k, whatever it may be and then answer your question. The best part- every portion of the answer is cited with the source document.Now- if you’ve tried to do any of this in ChatGPT you may know that the answers are often wrong or hallucinations. The way Fintool is able to outperform ChatGPT is their focus on the SEC filings.If you’re an analyst or a portfolio manager at a hedge fund, check them out at https://fintool.com?utm_source=substack&utm_campaign=yavb&utm_content=podcast280See our legal disclaimer here: https://www.yetanothervalueblog.com/p/legal-and-disclaimer
Yet Another Value Podcast is a new podcast from Andrew Walker, the founder of yetanothervalueblog.com/. We interview top investors and dive deep into stocks and companies they are currently working on and investing in. While nothing on this channel is investing advice and everyone should do their own diligence, our goal is to frequently feature edgy and actionable value and/or event driven ideas.
Please see our legal and disclaimer at: https://yetanothervalueblog.substack.com/p/legal-and-disclaimer
Ireland